Santander Consumer USA Holdings Inc (NYSE:SC) Sees Significant Increase in Short Interest
Santander Consumer USA Holdings Inc (NYSE:SC) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 4,038,500 shares, an increase of 6.8% from the May 15th total of 3,782,100 shares. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is presently 3.8 days. Currently, 3.9% of the shares of the stock are sold short.
In related news, insider Richard Morrin sold 17,422 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $21.22, for a total transaction of $369,694.84. Following the sale, the insider now owns 59,203 shares of the company’s stock, valued at $1,256,287.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in SC. Nisa Investment Advisors LLC acquired a new position in Santander Consumer USA during the 1st quarter worth $169,000. HRT Financial LLC acquired a new position in shares of Santander Consumer USA during the fourth quarter valued at about $182,000. Two Sigma Securities LLC acquired a new position in shares of Santander Consumer USA during the fourth quarter valued at about $208,000. SG Americas Securities LLC acquired a new position in shares of Santander Consumer USA during the first quarter valued at about $272,000. Finally, Regentatlantic Capital LLC raised its position in shares of Santander Consumer USA by 34.5% during the first quarter. Regentatlantic Capital LLC now owns 15,950 shares of the financial services provider’s stock valued at $337,000 after buying an additional 4,093 shares during the last quarter.
Santander Consumer USA (NYSE:SC) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.04. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Santander Consumer USA had a net margin of 12.56% and a return on equity of 12.95%. Santander Consumer USA’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. As a group, research analysts expect that Santander Consumer USA will post 2.64 EPS for the current year.
Several research firms have issued reports on SC. Susquehanna Bancshares reaffirmed a “neutral” rating on shares of Santander Consumer USA in a report on Thursday, June 20th. JPMorgan Chase & Co. raised Santander Consumer USA from an “underweight” rating to a “neutral” rating and upped their price target for the company from $20.00 to $23.00 in a report on Tuesday, April 16th. Buckingham Research began coverage on Santander Consumer USA in a report on Monday, June 10th. They issued a “neutral” rating and a $24.00 price target on the stock. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $24.00 price target on shares of Santander Consumer USA in a report on Monday, April 22nd. Finally, Compass Point cut Santander Consumer USA from a “buy” rating to a “neutral” rating in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. Santander Consumer USA presently has an average rating of “Hold” and an average target price of $23.60.
Santander Consumer USA Company Profile
Santander Consumer USA Holdings Inc, a specialized consumer finance company, provides vehicle finance and third-party servicing in the United States. Its products and services include retail installment contracts and vehicle leases, as well as dealer loans for inventory, construction, real estate, working capital, and revolving lines of credit.
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